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Integrative literature review of the financial fragility hypothesis proposed by Minksy

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posted on 2022-01-20, 17:13 authored by Cláudio CaríssimoCláudio Caríssimo, Mozar José de Brito, Francisval Melo Carvalho, carlos eduardo Stefaniak Aveline, rafaela maiara caetano

This paper conducts an Integrative Literature Review on the Financial Fragility Hypothesis presented by Minsky and on Financial Fragility Applied to the Public Sector. Twenty papers were chosen that addressed the proposed theme in both quantitative and qualitative procedures. The topics discussed ways of measuring financial fragility, effects on fiscal policy and need for regulation, relations between investment, cash flow expectations, the influence of interest rates and indebtedness on firms, and financial instability. The integration reinforced the conceptual aspects and propositions presented by Minsky, broadening in an integrated way the understanding of his theoretical assumptions regarding financial fragility, addressing the causes, observations, and economic and institutional consequences, in addition to signaling for insufficiencies of more empirical studies and the public sector.


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There is no conflict of interest

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Lead author country

  • Brazil

Lead author job role

  • Higher Education Faculty 4-yr College

Lead author institution

Federal University of Alfenas

Human Participants

  • No

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